Easypaisa to Provide G2P Payment Service to EOBI Pensioners

EasyPaisa-LogoTameer Microfinance Bank and Telenor Pakistan will provide money transfer services through Easypaisa channels to hundreds of pensioners registered with Employees Old-Aged Benefits (EOBI).

Nadeem Hussain, CEO Tameer Microfinance Bank, revealed this in an interview with ProPakistani correspondent.

He said the Tameer Bank will be signing the Memorandum of Understanding (MoU) for the project with EOBI official shortly to initiate the first ever project of Government-to-Persons (G2P) payment system through branchless banking.

The project will facilitate 0.3 million pensioners of EOBI who will be capable of collecting their pensions from Easypaisa outlets, he said.

“The first G2P project will drive its new field in the branchless banking through Easypaisa which has been leading the market and will be leader in the market, Hussain affirmed.

“There will be more such projects to be exploited by corporations and people will get benefit from the technology and system,” he said while referring to the potential of corporate and public sectors regarding salaries and pension distributions to their staff members and ex-employees.

Tameer Microfinance Bank has decided to go for salary disbursement program through Easypaisa service and it will first transfer salaries of its own employees through branchless banking where they can collect their money from the outlets or save their cash in the account, he added.

Easypaisa is a fastest mobile-banking service in Pakistan with an average Rs 1.5 billion are transacted every month between individuals through its branchless banking system.

The overall volume of countrywide money transfer have been increased to Rs 45 billion so far with number of account reached 0.5 million, Hussain further said.

Almost 70 percent of Easypaisa users live on less than $3.75 per day; 41 percent live on less than $2.50 per day; and 5 percent live on less than $1.25 per day, the findings of a CGAP survey said earlier.

Survey also revealed that 45 percent of Easypaisa users lack access to bank accounts, suggesting that Easypaisa has already achieved relatively strong penetration into poor and unbanked populations.

Three-quarters of the respondents (76%) felt the service has a positive impact on their lives and a high majority of users (88%) thought the service was easy to use.